Market ResearchAn initial customer survey showed a gap between customer expectations and reality in response time for technical support. Investment was needed and based on our data, it was made. This survey also proved that 95% of their customers believe this security company "stops theft", which became a key marketing slogan for years to come.
A later survey of customers revealed they wouldn’t accept more price increases, but opportunity still existed to sign their medium and large customers to additional contracts at additional sites. These medium and large customers had liability concerns that were reinforced by the security company’s existing focus on zapping thefts with electricity — so that was changed. The survey also showed a telemarketing and field sales force were needed to leads.
- Keep prices stable and sign longer term contracts
- Balance efforts between large, medium and small accounts.
- Change the messaging to assuage liability fears.
- Track sales efforts to aid management.